Portland USDA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Portland's 38 lenders originated 91 USDA loans during 2022. The total origination value was $33,935,000, with an average USDA loan value of $372,912.

    Portland USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Portland averaged 5.81% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

    Portland's average USDA mortgage closing costs are $8,326.

    The average rate for the prior week (2023-03-10) was 6.02% and one month ago for the week of 2023-02-10, the average rate was 5.59%.

    The average rate one year ago was 3.48%.

    For refis of the same type during the week of 2023-03-17, the average rate was 5.01%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Portland USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 14 3.46% $12,733
    UNITED WHOLESALE MORTGAGE, LLC 8 4.12% $11,219
    CALIBER HOME LOANS, INC. 7 3.45% $8,807
    PACIFIC RESIDENTIAL MORTGAGE, LLC 4 4.53% $10,923
    SOUTHWEST FUNDING, LP 4 4.63% $12,099
    MORTGAGE EXPRESS, LLC 3 5.45% $14,694
    PANORAMA MORTGAGE GROUP, LLC 3 4.71% $17,244
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.88% $10,617
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.82% $12,070
    PLAZA HOME MORTGAGE, INC. 3 4.50% $8,902
    HOME POINT FINANCIAL CORPORATION 3 4.50% $9,438
    ACADEMY MORTGAGE CORPORATION 2 4.19% $9,803
    CHURCHILL MORTGAGE CORPORATION 2 4.75% $10,488
    CMG MORTGAGE, INC. 2 5.25% $11,337
    DHI MORTGAGE COMPANY, LTD. 2 3.94% $7,179
    GUARANTEED RATE, INC. 2 5.00% $12,534
    Hometown Lenders, Inc. 2 4.88% $13,138
    Paramount Residential Mortgage Group, Inc. 2 3.56% $9,433
    U.S. Bank 2 4.38% $10,567
    HOME MORTGAGE ALLIANCE, LLC 1 4.25% $6,689
    DIRECTORS MORTGAGE, INC. 1 3.37% $7,401
    HomeStreet Bank 1 3.13% $14,624
    Umpqua Bank 1 3.63% $8,388
    LAKEVIEW LOAN SERVICING, LLC 1 2.75% $4,387
    LEADERONE FINANCIAL CORPORATION 1 4.25% $18,755
    Loan Simple, Inc. 1 6.25% $19,649
    Commerce Home Mortgage, Inc. 1 2.75% $13,093
    NATIONS DIRECT MORTGAGE, LLC 1 2.50% $7,914
    Century Mortgage Company DBA Century Lending Company 1 2.75% $13,150
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.99% $16,644
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $11,441
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $5,862
    CANOPY MORTGAGE, LLC 1 2.75% $7,540
    Sierra Pacific Mortgage Company, Inc. 1 2.88% $8,078
    GENEVA FINANCIAL, LLC 1 6.50% $22,339
    BROKER SOLUTIONS, INC. 1 3.00% $11,877
    Flagstar Bank, FSB 1 2.88% $11,575
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.25% $9,492

    The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 14 USDA loans originated. Their average total fees are $12,733, which is $1,515 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Portland USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($12,733), .

    The lowest rate Portland USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (3.46%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $475,000 (3.9%) $623,407 (3.6%) 1.76 4,657
    2018-02-01 $482,450 (2.1%) $637,431 (4.0%) 1.75 4,461
    2018-03-01 $495,000 (3.1%) $638,358 (2.1%) 1.74 4,776
    2018-04-01 $499,000 (2.9%) $637,321 (1.7%) 1.69 5,397
    2018-05-01 $499,450 (2.0%) $638,614 (1.6%) 1.67 6,285
    2018-06-01 $495,000 (1.8%) $628,714 (1.6%) 1.65 7,150
    2018-07-01 $482,500 (0.5%) $615,394 (1.5%) 1.61 8,120
    2018-08-01 $478,100 (0.7%) $603,309 (0.9%) 1.60 8,643
    2018-09-01 $469,960 (0.2%) $592,771 (0.3%) 1.58 8,970
    2018-10-01 $469,575 (0.4%) $589,575 (-0.2%) 1.59 8,711
    2018-11-01 $469,850 (0.0%) $592,584 (-0.9%) 1.59 8,086
    2018-12-01 $469,900 (-1.1%) $600,478 (-2.0%) 1.62 6,959
    2019-01-01 $472,425 (-0.5%) $602,934 (-3.3%) 1.63 6,177
    2019-02-01 $477,000 (-1.1%) $611,563 (-4.1%) 1.61 6,030
    2019-03-01 $480,143 (-3.0%) $610,873 (-4.3%) 1.57 6,291
    2019-04-01 $475,643 (-4.7%) $603,741 (-5.3%) 1.51 6,851
    2019-05-01 $478,050 (-4.3%) $604,266 (-5.4%) 1.49 7,404
    2019-06-01 $479,000 (-3.2%) $600,952 (-4.4%) 1.50 8,318
    2019-07-01 $474,950 (-1.6%) $598,452 (-2.8%) 1.49 8,610
    2019-08-01 $473,291 (-1.0%) $598,142 (-0.9%) 1.50 8,507
    2019-09-01 $470,877 (0.2%) $596,670 (0.7%) 1.51 8,265
    2019-10-01 $464,500 (-1.1%) $590,408 (0.1%) 1.50 7,962
    2019-11-01 $462,900 (-1.5%) $592,627 (0.0%) 1.52 6,951
    2019-12-01 $465,950 (-0.8%) $597,078 (-0.6%) 1.55 5,662
    2020-01-01 $471,000 (-0.3%) $609,065 (1.0%) 1.57 4,876
    2020-02-01 $479,000 (0.4%) $615,565 (0.7%) 1.56 4,437
    2020-03-01 $479,450 (-0.1%) $620,112 (1.5%) 1.50 4,825
    2020-04-01 $475,025 (-0.1%) $607,185 (0.6%) 1.49 5,684
    2020-05-01 $487,998 (2.1%) $616,851 (2.1%) 1.48 5,753
    2020-06-01 $499,000 (4.2%) $630,805 (5.0%) 1.47 5,377
    2020-07-01 $499,900 (5.3%) $642,403 (7.3%) 1.45 5,135
    2020-08-01 $499,950 (5.6%) $650,641 (8.8%) 1.43 5,060
    2020-09-01 $499,975 (6.2%) $654,558 (9.7%) 1.43 4,749
    2020-10-01 $510,000 (9.8%) $660,928 (11.9%) 1.46 4,500
    2020-11-01 $512,500 (10.7%) $669,609 (13.0%) 1.49 3,849
    2020-12-01 $507,500 (8.9%) $673,862 (12.9%) 1.51 2,960
    2021-01-01 $499,900 (6.1%) $682,327 (12.0%) 1.49 2,487
    2021-02-01 $502,595 (4.9%) $690,987 (12.3%) 1.46 2,244
    2021-03-01 $511,950 (6.8%) $683,665 (10.3%) 1.45 2,404
    2021-04-01 $525,000 (10.5%) $693,200 (14.2%) 1.42 2,637
    2021-05-01 $549,900 (12.7%) $717,340 (16.3%) 1.45 2,851
    2021-06-01 $554,950 (11.2%) $726,910 (15.2%) 1.46 3,337
    2021-07-01 $555,000 (11.0%) $731,675 (13.9%) 1.46 3,759
    2021-08-01 $550,000 (10.0%) $723,151 (11.1%) 1.46 3,854
    2021-09-01 $550,000 (10.0%) $724,316 (10.7%) 1.46 3,997
    2021-10-01 $550,000 (7.8%) $720,993 (9.1%) 1.47 3,910
    2021-11-01 $550,000 (7.3%) $724,789 (8.2%) 1.47 3,128
    2021-12-01 $549,250 (8.2%) $727,860 (8.0%) 1.49 2,379
    2022-01-01 $550,000 (10.0%) $739,131 (8.3%) 1.49 1,837
    2022-02-01 $561,700 (11.8%) $736,543 (6.6%) 1.46 1,926
    2022-03-01 $574,375 (12.2%) $737,242 (7.8%) 1.44 2,145
    2022-04-01 $585,000 (11.4%) $755,066 (8.9%) 1.39 2,347
    2022-05-01 $597,450 (8.7%) $759,355 (5.9%) 1.37 3,418
    2022-06-01 $599,995 (8.1%) $762,247 (4.9%) 1.34 4,393
    2022-07-01 $599,000 (7.9%) $753,872 (3.0%) 1.35 5,654
    2022-08-01 $590,374 (7.3%) $745,501 (3.1%) 1.36 5,815
    2022-09-01 $589,900 (7.3%) $762,158 (5.2%) 1.38 5,842
    2022-10-01 $579,900 (5.4%) $760,849 (5.5%) 1.36 5,856
    2022-11-01 $582,480 (5.9%) $769,531 (6.2%) 1.40 5,514
    2022-12-01 $589,900 (7.4%) $779,770 (7.1%) 1.46 4,559
    2023-01-01 $597,450 (8.6%) $793,650 (7.4%) 1.47 3,813
    2023-02-01 $607,050 (8.1%) $812,739 (10.3%) 1.46 3,395
    Portland's median listing price for 2023-02-01 was $607,050, a difference of $45,350 (8.1%) versus the prior year and $9,600 versus the prior month.

    Portland's median listing price comes in at 146% of the national average.

    Portland's average listing price for 2023-02-01 was $812,739, a difference of $76,196 (10.3%) versus the prior year and $19,089 versus the prior month.

    For the 2023-02-01 period, Portland had 3,395 MLS listings, a difference of -418 listings (-11%) versus the prior month and 1,469 listings (76%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 65 days 2,265 sqft
    2018-02-01 44 days 2,273 sqft
    2018-03-01 36 days 2,265 sqft
    2018-04-01 32 days 2,274 sqft
    2018-05-01 31 days 2,275 sqft
    2018-06-01 33 days 2,248 sqft
    2018-07-01 37 days 2,216 sqft
    2018-08-01 38 days 2,187 sqft
    2018-09-01 45 days 2,156 sqft
    2018-10-01 50 days 2,142 sqft
    2018-11-01 57 days 2,149 sqft
    2018-12-01 68 days 2,142 sqft
    2019-01-01 70 days 2,136 sqft
    2019-02-01 48 days 2,156 sqft
    2019-03-01 41 days 2,146 sqft
    2019-04-01 36 days 2,132 sqft
    2019-05-01 33 days 2,140 sqft
    2019-06-01 37 days 2,159 sqft
    2019-07-01 41 days 2,149 sqft
    2019-08-01 44 days 2,136 sqft
    2019-09-01 48 days 2,130 sqft
    2019-10-01 51 days 2,112 sqft
    2019-11-01 64 days 2,099 sqft
    2019-12-01 76 days 2,096 sqft
    2020-01-01 77 days 2,110 sqft
    2020-02-01 59 days 2,104 sqft
    2020-03-01 44 days 2,095 sqft
    2020-04-01 45 days 2,095 sqft
    2020-05-01 56 days 2,106 sqft
    2020-06-01 52 days 2,120 sqft
    2020-07-01 44 days 2,107 sqft
    2020-08-01 43 days 2,100 sqft
    2020-09-01 51 days 2,079 sqft
    2020-10-01 58 days 2,056 sqft
    2020-11-01 65 days 2,048 sqft
    2020-12-01 66 days 2,000 sqft
    2021-01-01 53 days 1,942 sqft
    2021-02-01 39 days 1,880 sqft
    2021-03-01 33 days 1,904 sqft
    2021-04-01 31 days 1,912 sqft
    2021-05-01 31 days 1,948 sqft
    2021-06-01 28 days 1,975 sqft
    2021-07-01 35 days 1,976 sqft
    2021-08-01 37 days 1,964 sqft
    2021-09-01 43 days 1,961 sqft
    2021-10-01 43 days 1,931 sqft
    2021-11-01 52 days 1,907 sqft
    2021-12-01 50 days 1,861 sqft
    2022-01-01 61 days 1,852 sqft
    2022-02-01 29 days 1,828 sqft
    2022-03-01 28 days 1,834 sqft
    2022-04-01 27 days 1,848 sqft
    2022-05-01 24 days 1,928 sqft
    2022-06-01 25 days 1,982 sqft
    2022-07-01 30 days 2,000 sqft
    2022-08-01 37 days 2,001 sqft
    2022-09-01 44 days 1,995 sqft
    2022-10-01 45 days 1,988 sqft
    2022-11-01 52 days 1,995 sqft
    2022-12-01 65 days 2,001 sqft
    2023-01-01 72 days 2,020 sqft
    2023-02-01 54 days 2,038 sqft
    Portland's median listing age (time on market) for 2023-02-01 was 54 days. This is 86% longer than the same period one year ago.

    Portland's median square footage for active listings during the 2023-02-01 period was 2,038 sqft. One year prior, the average listing was 1,828 sqft.